Hehe jakspara. I swapped my oppies for heads too on friday. You did better than me though, as I jumped out in the mid 6s. I now realise that all I have done is limit my upside should great news come, and limit my downside should the news be fair or worse. Not usually my style, but after being down something like 30k (realised + paper) on CTP days ago, I now realise that 40% of my holdings are free carried. Still can't believe it. Now the only sad thing is, should CTP release news 2 sections of the Pacoota are oil saturated, part of me will be a little sad, but I will for the most part still be elated.
I did this arbitrage trading many times with SSN, swapping heads for oppies whenever I felt one was relatively undervalued. It's a tricky game, but I'm sure ended up ahead. As did my broker.
FWIW, we will have many chances to swap between heads and oppies in the coming months and years. Just got to make sure yo'r timing is right, and your broker will love you for it, regardless.
GL all
CTP Price at posting:
57.5¢ Sentiment: Buy Disclosure: Held
